As you evaluate business operations or read financial reports, it’s important to step back and consider how much you know, in addition to what you may not know. Consider whether your assumptions are accurate, data is reliable, and whether you have all the information you need to make the best decisions for your business. It’s what you don’t know that can cause problems and sometimes you don’t know what you don’t know.
A familiar quote from Donald Rumsfeld is noted in “Dodge The Unknowns In Your Business,” posted by Paul Pistilli, on ASBA.com which is “But there are also unknown unknowns…the ones we don’t know we don’t know…it is the latter category that tend to be the difficult ones.” The assumptions that you may believe to be true could lead your business in the wrong direction. For example, you may see that one of your products is gaining in popularity. Could the increase in interest be from a successful marketing campaign, a customer with a large order, or a seasonal interest that could just as easily drop off? Before you rush out to replenish inventory and ramp up production, it may be worthwhile to dive deeper into your data.
Businesses can gain insight into business operations with the support of an enterprise resource planning (ERP) solution. You can manage all of your data within an integrated ERP solution including finances, supply chain and inventory, manufacturing and distribution operations, and other core data. A centralized business solution offers a much easier way to find the data you need, when you need it, rather than searching through spreadsheets or disparate software reports. In addition, with a 360 degree view of your business, you can gain insight into the intricate connections between business activities such as product popularity, customer buying behaviors, and seasonal trends for example. Built-in business intelligence can be used to identify these trends, then provide the reliable insight needed to make strategic business decisions, which is more accurate than gut feelings.
Replace what you don’t know with what you do know by deploying an ERP solution. Contact Sherwood Systems to learn how you can gain a new perspective on business with ERP.
By Sherwood Systems, Microsoft ERP and CRM Partner out of Arizona
About Sherwood Systems
Sherwood Systems is a Gold Certified Microsoft Dynamics Partner out of Phoenix, Arizona. Sherwood Systems is dedicated to providing Microsoft Dynamics GP and Microsoft Dynamics CRM (Customer Relationship Management) business management and accounting software solutions to small to midsize Nonprofit customers in Arizona, New Mexico and Nevada and in the Business Aviation (FBO) industry in North America. For more information please visit: http://www.sherwood.com/
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